Increases amounts of aid paid to certain municipalities that host watershed lands; increases amount annually appropriated to "Highlands Protection Fund" from realty transfer fee revenues.

This bill increases financial aid to New Jersey municipalities that host watershed lands within the Highlands Region, directing funds from the Highlands Protection Fund and other environmental funds to offset property restrictions. It requires that at least 25% of the aid received by each municipality be used for school funding purposes. Additionally, the bill adjusts how money from realty transfer fees is allocated to the Highlands Protection Fund, ensuring ongoing support for watershed protection efforts. The legislation applies specifically to municipalities identified by the Highlands Water Protection and Planning Council as hosting watershed lands.